India’s growth estimate for the current fiscal year was raised by Fitch Ratings from 7% to 7.2% in March. Increased investment and a rebound in consumer spending are the causes of this change.
In its quarterly Global Economic Outlook report, released today, Fitch Ratings also showed an increase in their global growth estimate for 2024, from 2.4% to 2.6%. China’s export industry is seeing a renaissance, and optimism on the prospects for the European recovery has improved. With the exception of China, domestic demand is growing faster in emerging nations. These elements point to a promising picture for growth in the world economy in the upcoming year.
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